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We refer to our announcements on the proposed Internal Group Rationalisation exercise on 20 June 2001 (SS-010618-41782), 4 July 2001 (SS-010625-47206) and 20 July 2001 (SS-010709-57985) pertaining to the above matter.
The Board of Directors further wishes to announce that SCIB has on 20 May 2002 and 24 August 2002 obtained the relevant approvals from the Foreign Investment Committee and the Ministry of International Trade & Industry respectively.
As such, SCIB is now in the process of transferring its manufacturing business, plant and machinery and related assets, and investment in associated company to its wholly owned subsidiaries.